LMR Partners LLP purchased a new position in BlackRock Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The firm purchased 4,128 shares of the company’s stock, valued at approximately $1,414,000.
Several other large investors have also modified their holdings of the company. Haverford Financial Services Inc. raised its stake in shares of BlackRock by 1.2% in the first quarter. Haverford Financial Services Inc. now owns 26,206 shares of the company’s stock worth $8,925,000 after buying an additional 323 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of BlackRock by 9.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 15,139 shares of the company’s stock worth $5,156,000 after buying an additional 1,360 shares during the period. Nikko Asset Management Americas Inc. raised its stake in shares of BlackRock by 28.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 900 shares of the company’s stock worth $307,000 after buying an additional 200 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of BlackRock during the first quarter worth $274,000. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of BlackRock by 19.0% in the first quarter. Canandaigua National Bank & Trust Co. now owns 3,107 shares of the company’s stock worth $1,058,000 after buying an additional 497 shares during the period. 81.58% of the stock is owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded up 0.11% during mid-day trading on Friday, reaching $357.21. The company’s stock had a trading volume of 789,321 shares. BlackRock Inc. has a one year low of $280.55 and a one year high of $376.65. The stock’s 50 day moving average is $366.96 and its 200 day moving average is $356.59. The firm has a market cap of $58.75 billion, a PE ratio of 19.03 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts anticipate that BlackRock Inc. will post $19.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were paid a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio is presently 48.83%.
A number of equities research analysts have weighed in on BLK shares. Deutsche Bank AG lifted their target price on BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Goldman Sachs Group Inc. lowered BlackRock from a “conviction-buy” rating to a “buy” rating and lifted their target price for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Vetr lowered BlackRock from a “buy” rating to a “hold” rating and set a $382.97 target price for the company. in a research report on Tuesday, August 16th. Finally, Barclays PLC lifted their target price on BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 24th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $383.19.
In other BlackRock news, Director Susan Wagner sold 79,346 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the transaction, the director now owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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